S IMMO AG

EANS-Adhoc: S IMMO AG
Successful sale of German residential properties

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  Disclosed inside information pursuant to article 17 Market Abuse Regulation
  (MAR) transmitted by euro adhoc with the aim of a Europe-wide distribution.
  The issuer is solely responsible for the content of this announcement.
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Strategic management decisions/Contracts
12.08.2016


Today S IMMO has entered into contracts regarding the sale of a part of its
German residential portfolio to "Deutsche Investment Wohnen III", a fund managed
by Deutsche Investment, together with EB GROUP. The transaction comprises
approximately 1,500 residential units in Berlin and Hamburg. In terms of space,
this corresponds to a third of the German residential portfolio or about 20% of
S IMMO's total German portfolio. The transaction is expected to close within the
next months.

With this transaction S IMMO realises the so far achieved increase in value for
this part of the portfolio. At closing, this transaction will result in a net
inflow (after deduction of credit financing) of approximately EUR 140m.

The sale will also positively contribute to the revaluation result for the first
six months of 2016. That result from property revaluation will amount to roughly
EUR 106m (the final figures for the first half year will be announced on 25
August). Moreover, a significant profit will arise from the reversal of deferred
tax liabilities at closing. Overall, the sale will significantly strengthen S
IMMO's balance sheet structure and increase its equity.


Further inquiry note:
Corporate Communications & Investor Relations:
Elisabeth Wagerer
phone: +43 (0)50 100-27867
mobile: +43 (0)664 838 97 18
e-mail: elisabeth.wagerer@simmoag.at

end of announcement                               euro adhoc 
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issuer:      S IMMO AG 
             Friedrichstraße  10
             A-1010 Wien
phone:       +43(0)50100-27550
FAX:         +43(0)050100-927559
mail:     office@simmoag.at
WWW:      www.simmoag.at
sector:      Real Estate
ISIN:        AT0000652250
indexes:     ATX Prime, IATX
stockmarkets: official market: Wien 
language:   English
 

Original-Content von: S IMMO AG, übermittelt durch news aktuell

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